Yacht Management

Receive all the benefits of Monocle’s 85 years of management expertise at no extra cost to You.

The Yachting Dilemma

We all experience major events in our lives which create memories both good and bad. For boaters, the happiest days are the purchasing of the new family vacation, “our yacht.” For investors, it’s the excitement of a new venture capital placement.

For all of us it is a major decision. We spend years planning, investigating, and visiting boat shows, speaking with marine vendors and yacht brokers, checking magazines, making financial inquiries and arrangements, hiring a captain and crew, all leading to the culmination of our dream, “owning a yacht.”

Twelve months pass as we see the dream yacht now listed in the “for sale” section of the magazines.

So what happened to this family and business dream? Why is this yachting treasure, which took so much planning, effort, and money to create, now listed in the “for sale” roster? Why has the dream become a nightmare?

There are many problems inherent with yacht ownership. First of all, many of us have a demanding career that is all-consuming. There are business, family and social obligations of every type that require our constant attention. We frequently live in another area or other part of the world from where our yacht is berthed and have to rely on our captain and crew to protect our investment and floating asset. With little or no yacht management experience, owners attempt to manage this multi-million dollar asset through the phone and through the eyes of our on-site employees. In a short time, we realize that owning a yacht has become a gigantic commitment and overwhelming responsibility of our business or personal time, sapping our energy, money, and nerves. Our dream becomes a battle of Herculean proportions.

We finally give in and give up our dream. Our dream is stolen from us by the never ending high cost of repairs, suppliers, ship yard work, and crew personnel problems.

The Solution: Monocle Yacht Management

Monocle Management has provided successful, comprehensive multi-asset management services since 1965, and can offer these services to the yachting industry.

We believe that yachting should be enjoyed like any other life-style activity and want to shift the awesome burden and time consuming responsibility of yacht ownership to our experienced management organization.

Purchasing:

Monocle, through its numbered computer purchase order system will control all vendor purchases, taking advantage of our worldwide buying power and proven marine suppliers. Fuel, dockage, maintenance, supplies, crew uniforms, interior replacements, and general provisioning are just a few of the cost cutting areas in which we excel.

Monocle Yacht Management has national buying power — we purchase marine supplies directly from the manufacturer, with all savings passed along directly to the owners.

There is no incentive to spend your money — there are no “UP” charges, kick backs, or “REBATES” of any kind to the company on all purchases for materials, supplies, or all outside maintenance vendors. We offer total honesty and integrity.

Repairs:

Monocle Yacht Management believes that an experienced professional mechanic should be called in first to consult with your captain or chief engineer before initiating outside work orders to marine service companies.

This procedure frequently eliminates costly repairs by outside vendors and improves the skills and ability of your in-house captain and crew. With Monocle Yacht Management now performing the professional asset management functions, your captain has the time to focus on your yacht, especially the engine room and all the other extensive mechanical equipment.

Insurance:

Monocle will evaluate your present insurance policy or assist you in placing new or additional coverage to comply with new Maritime requirements for charter and non-charter vessels. Proper insurance coverage and pricing are another management function that Monocle performs. Because we manage a large portfolio of yachts worldwide we are able to negotiate lower prices with reliable underwriters. Owners typically save 25% on their insurance cost.

Accounting Services:

Each yacht maintains its own separate bank account. Monthly financial statements reflecting all expenditures, including payroll, are submitted to the owner along with the original paid invoices. We maintain worldwide banking relationships to assist you in the financing of your yacht.

Our inspection services include:

Routine inspections and re-inspections of the yacht from stem to stern including all mechanical equipment.

Proactive maintenance programs encompassing all the mechanical equipment and systems throughout the yacht.

Crew Responsibility:

Monocle Yacht Management will be your managing agent for the captain and crew aboard your yacht. This will eliminate that direct, often annoying, aspect of yacht ownership. Our obligation is to provide your yacht with the most professional staff available. Monocle Yacht Management will perform thorough background investigations of all proposed personnel including psychological compatibility and situation response testing.

Other Services:

Monocle will assist its owners in negotiating capital expenditures with ship and repair yards for items such as refurbishing, repainting, retrofitting, yacht extensions, refitting to comply with new safety code requirements, interior and exterior design improvements, or the purchase of a new yacht. In addition, our specialized consultants are experienced in other marine areas like the MCA Code of Practice, Solas Convention, ISM code, STCW requirements, vessel discharge contingency spill response plans and safety training.

When a yacht joins the Monocle fleet, it comes under our umbrella of protection and caring. Whether your yacht is in Florida, the Caribbean, New England or Europe, we will be in constant communication protecting your asset and servicing your crew. Many years of owning large yachts coupled with professional multi-asset management experience allow Monocle to introduce a new dimension to yachting.

We believe that yachting should be enjoyed like any other life-style activity and want to shift the awesome burden and time consuming responsibility of yacht ownership to our experienced management organization.

About

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the

Monocle Newsletter

Subscribe to our newsletter and stay up to date with the latest yachting lifestyle news!